If an Interest Rate (Which Could Be Greater Than 10%)

question 30

Short Answer

If an interest rate (which could be greater than 10%) is to be calculated to the nearest 0.01%, what minimum number of digits must be retained in the numbers used to calculate the interest rate?

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Definitions:

Negligence

The failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances.

Crab Salad

A dish typically made with crab meat, mayonnaise, and various other ingredients such as celery, onion, and seasonings.

Agony of the Moment

An intense, often fleeting emotional response to a particularly stressful or traumatic experience.

Act of God

An unforeseeable natural event, such as an earthquake, flood, or tornado, that cannot be prevented and is excluded from legal liability.